Technical Analysis: [ETH / USD] Ethereum created a new high for 2020. We are at 48% appreciation, waiting for a break!

Ethereum is doing very well this year, the value has already added 48.5% and currently USD values created a new high yesterday. But before him has a very strong resistance, which he failed to overcome four times in a row, we are waiting for the break since August 2019.

[ETH / USD] in 2020 to the current value + 48.54%

Like Bitcoin, Ethereum grew in 2020. At the moment we got anout $ 189. The graph shows the reflection of the support at 155 USD.

Yesterday, Ethereum topped this year at $ 195. Unfortunately, in this band, as in Bitcoin, we have strong resistance. Bulls hold on very well and both ETH and BTC are still balancing on strong resistance. However bears do not have the power to send it below. Bulls must break through. The Ethereum is waiting for Bitcoin to move so that it can also grow (meant to grow beyond resistance not growing during the year).

In addition to the current figure, we see an ETH increase of 48.5% in 2020, which is definitely not a small one. It’s the best entry in the last 4 years.

Support

As part of support, we see a possible drop to $ 175, where the closest support values are. If this value were broken, it is likely to fall into the area of 161 USD.

Resistance

Resistance is difficult because we are currently in the resistance range at $ 183-195. This resistance is extremely important for future growth, it is also extremely strong and we are testing it for the fourth time, for the first time in August 2019. If we break it, the path opens for $ 222. ETH was on top at $ 366 in 2019, and so has Ethereum catching up.